February fleet update

Songa Venus has spent the full month of February in Singapore where it is
currently undergoing its 5 yearly SPS inspections. Planned inspections are
progressing in line with schedule and budgets set. Inspections have however
revealed some unexpected wear on parts of the anchor chains and replacements
have been sought for these, a total of $2 mill of Capex investment is expected
to cover unexpected repairs and replacements revealed during the SPS. The rig is
scheduled to depart Singapore mid March for upcoming Shell contract in Australia
with estimated date of contract commencement 1 April.

Songa Mercur has achieved operating efficiency of 100% during the operational
part of the month. The rig arrived in Singapore 12 February and is currently
undergoing its 5 yearly SPS inspections. Planned inspections have so far
progressed in line with schedule and budgets set, but also here it is
experienced some unexpected wear on anchor chains. Final inspections and
sourcing of replacement chain is still taking place but the Company does not
foresee any excessive budget or schedule slippage resulting from findings to
date. The ongoing SPS inspections is scheduled to be finalized during first half
of April and the rig is actively marketed for onwards work in the South East
Asia and Australia region.

Songa Saturn has achieved operating efficiency of 96% during the month. The rig
continued working on the first out of two firm wells for CNOOC in Equatorial
Guinea.

Songa Dee has achieved operating efficiency of 95% during the month; the rig
continues to operate for Marathon / Lundin in Norway.

Songa Delta has achieved operating efficiency of 97% during the month; the rig
is currently working for Wintershall / Det Norske Oljeselskap in Norway.

Songa Trym has achieved operating efficiency of 98% during the month; the rig
continues to operate for Statoil in Norway.

Limassol, 2010-03-04


About Songa:

Songa  is a provider of offshore drilling services.  With its fleet of six rigs,
it  currently operates in the  North Sea, offshore North  and West Australia and
offshore North and West Africa.  Songa is headquartered in Limassol, Cyprus.

Forward   Looking  Statements:  Certain  statements  in  this  announcement  are
forward-looking.  These  forward-looking  statements  represent expectations for
Songa's business and results of operations, and involve risks and uncertainties.
These  forward-looking statements are based on current expectations, assumptions
and projections about future events.  Because these expectations and assumptions
involve  known and unknown risks, uncertainties  and other factors, which are in
some  cases beyond  Songa's control,  actual results  or performance  may differ
materially  from those expressed or implied by such forward-looking statements.
Given  the risks and  uncertainties, investors are  cautioned not to place undue
reliance on such forward-looking statements.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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